BNY Mellon Q3 Profit Beats Street - Quick Facts

(RTTNews) - Bank of New York Mellon Corp. or BNY Mellon (BK) reported higher third-quarter net income applicable to common shareholders of $967 million, versus the prior year's $833 million, with earnings per share rising year-over-year to $0.82, from $0.71.

Excluding the benefit related to the U.S. Tax Court's partial reconsideration of a tax decision, net income applicable to common shareholders totaled $706 million, or $0.60 per share. The second-quarter 2013 results include an after-tax gain of $109 million, or $0.09 per share, related to an equity investment. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.58 for the quarter. Analysts' estimates typically exclude one-time items.

On a GAAP basis, quarterly total revenue was $3.77 billion, up from last year's $3.68 billion, and non-GAAP total revenue amounted to $3.76 billion. Analysts estimated revenues of $3.75 billion for the quarter.

In addition, the company today declared a quarterly dividend of $0.15 per share, payable on November 5, to shareholders of record as of the close of business on October 28.